Aedifica acquired the remaining stake of 50% in the portfolio of six care residences. The total contractual value amounts to c. €25m. Following this transaction.
The portfolio includes six purpose-built care residences with excellent locations in various municipalities in the Netherlands. The properties are specifically tailored to suit the needs of elderly people requiring continuous care and together accommodate a total of 235 residents. All six buildings are new, with most being completed in 2022 and 2023.
Sustainability was also extensively considered in the construction of this portfolio. Thanks to the installation of energy-efficient systems and the use of renewable energy sources (such as solar panels, sustainable heat network or smart ventilation systems), all buildings have exceptional energy ratings ranging from A to A++++. As a result, they also contribute to the continued improvement of the sustainability of Aedifica's real estate portfolio.
The six care residences are operated by Korian Netherlands, part of the Clariane Group, under the ‘Stepping Stones’, ‘Het Gouden Hart’ and ‘Hestia’ brands. The six properties are let based on long-term triple net leases with a WAULT2 of 19 years. The leases are fully indexed to the consumer price index (CPI). The initial rental yield of this transaction amounts to approx. 6.5%.
Stefaan Gielens, CEO of Aedifica, commented: “Aedifica continues to underpin the quality of its Dutch real estate portfolio by investing approx. €25 million in a portfolio operated by Korian Netherlands. While we initially had a 50% stake in this portfolio, we now become full owners. The portfolio includes six well-run purpose-built care residences that were recently completed. Moreover, the buildings have excellent energy ratings ranging from A to A++++, contributing to the continued improvement of the sustainability of Aedifica's real estate portfolio.”
Image provided by Aedifica.
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